EverQuote, Inc. (NASDAQ:EVER) Short Interest Up 30.2% in January

EverQuote, Inc. (NASDAQ:EVER) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 3,047,726 shares, a growth of 30.2% from the January 15th total of 2,340,737 shares. Based on an average trading volume of 544,886 shares, the short-interest ratio is presently 5.6 days. Approximately 11.4% of the shares of the stock are short sold. Approximately 11.4% of the shares of the stock are short sold. Based on an average trading volume of 544,886 shares, the short-interest ratio is presently 5.6 days.

Insider Transactions at EverQuote

In other EverQuote news, CTO David Brainard sold 5,709 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total value of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares of the company’s stock, valued at $2,545,155.15. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jon Ayotte sold 3,639 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $26.76, for a total value of $97,379.64. Following the transaction, the chief accounting officer owned 49,233 shares of the company’s stock, valued at approximately $1,317,475.08. This represents a 6.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 59,507 shares of company stock worth $1,494,612 in the last three months. Corporate insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after purchasing an additional 61,805 shares during the last quarter. Amundi purchased a new position in EverQuote in the 1st quarter worth approximately $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in EverQuote by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after acquiring an additional 624 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in EverQuote by 615.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock valued at $8,896,000 after acquiring an additional 292,172 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of EverQuote by 215.6% in the second quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company’s stock worth $343,000 after purchasing an additional 9,700 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Stock Up 1.2%

Shares of EVER opened at $14.66 on Monday. EverQuote has a 52 week low of $14.14 and a 52 week high of $30.03. The stock has a market cap of $527.17 million, a P/E ratio of 10.25 and a beta of 0.50. The business’s 50 day moving average price is $24.06 and its 200-day moving average price is $23.71.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. Needham & Company LLC increased their price target on shares of EverQuote from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Wall Street Zen downgraded EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $34.00.

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.